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Essay / Research Paper Abstract
This is a 3 page paper that provides an overview of the 2008 recession. The argument is made that pre-existing monetary policy contributed to the recession. Bibliography lists 3 sources.
Page Count:
3 pages (~225 words per page)
File: KW60_KFrecess.doc
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Unformatted sample text from the term paper:
East and elsewhere throughout the world. The terrorist attacks of September 11, 2001 ushered in an era of paranoia and "patriotism" channeled into costly and some say misguided wars in
Iraq and Afghanistan. Perhaps the most immediately pressing issue to arise from this quagmire of events, however, was the recession of 2008 in which the American economy took a devastating
blow and the federal government was forced to bail out certain critical institutions such as banks and the automotive industry with billions of dollars in taxpayer money. While the basic
facts of the recession have been widely documented, this paper will attempt to assess some of the ways in which monetary policy circa 2008 contributed to the economic recession. This
paragraph helps the student give some basic facts about the recession. In order to understand the potential causes of the recession, however, one must first observe the impact it wrought
in particular sectors and societal demographics. Studies indicate that some of the most substantial hits were taken in the realm of "payroll jobs", the types of blue-collar jobs occupied by
the majority of working Americans (Sum, Khatiwada, McLaughlin, & Palma 2010, p. 6). By the end of 2008, the number of such jobs in the country had fallen to 134.6
million, which might seem like a great deal until one becomes cognizant of the fact that this alone represents 3.3 million lost jobs (Sum et al. 2010, p. 6)1. Without
a doubt, these "blue collar" jobs were the hardest hit in the economy, with the biggest impacts occurring in construction and extraction, installation and repair-related labor, production workers (assembly line),
and transportation operatives (such as truckers and shippers) (Sum et al. 2010, p. 6). To be sure, the effects of the 2008 recession were not just felt in America,
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